What is HelloGold Coin?
HelloGold Coin brings the Gold-based savings and funding to the blockchain . The company enables the preservation and diversification of assets through digital gold tokens.
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HelloGold Coin – Use
HelloGold will offer four main focuses. First, customers can purchase a gold-backed token. The digital token is covered by physical gold. Customers also have the opportunity to convert their held gold into a digital gold token (GBT). This allows customers to use the stored gold as a value outside the HelloGold system. In addition, customers may use their gold as collateral for loans made available by Aeon Credit Services and thus gain access to personal finance when required at market conditions. An iOS and Android app that allows customers to quickly buy and sell their tokens and exchange them for their share of investment grade gold.
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The HelloGold Coin App
The Hello Gold Coin app enables the purchase and sale of GBT units. Each token is backed by 1 gram of 99.99% investment grade gold. The tokens are fungible and divisible, so 0.0002 GBT would represent 0.0002 grams of gold. In addition, the platform will have an API covering the current international gold spot prices. As each GBT is backed by one gram of gold, GBT’s price will therefore be linked to the price of gold. This platform feature allows app users to buy and sell GBT at competitive prices. Finally, the app – via KYC & AML – allows users to redeem their GBT for physical gold bars, coins, or jewelry that are sent directly to the user’s address.
HelloGold Coin – The cryptocurrency
The HelloGold token is an ERC20-compliant token. His job is to secure the HelloGold Blockchain and trade on the stock exchanges. Each participant’s CHGT’s share determines the proportion of GBT rewards they receive. Upon completion of the crowdsale, the HelloGold Foundation has placed the GBT in proportion to its HGT holdings among the HGT owners. Since the GBT total supply is limited to 3,800,000 GBT (ie 3.8 tonnes of gold) and 1,000,000,000 HGT tokens generated, each HGT receives a maximum of 0.0038 GBT (ie, 0.0038 g of gold). The Hello Gold Foundation also coins more GBT relative to the amount of new gold purchased from Hello Gold. There are also fees: For accounts with GBT, an annual fee of 2% will be charged.
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The Ethereum Blockchain allows users to buy gold in small quantities. Customers without a bank account and those who want to invest and store their assets in gold, no longer need to buy and store physical gold or invest it from their funds. They will rather be able to buy small quantities and feel confident that they will be supported by the blockchain.
The HelloGold Coin Blockchain operates on a private network to avoid the payment of infrastructure fees per transaction, reduce transaction latency and avoid the risk of independent developers adding their own contracts to the Hello Gold Blockchain. This means that HelloGold and the other nodes control block times and ensure that customers’ gold transactions are performed efficiently.
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